Happy Sunday everyone!

In today’s edition, Lebanon makes headlines as its former central bank chief Riad Salameh walks free on a record-breaking bail in the middle of a high-profile fraud case. Over in Abu Dhabi, OpenAI’s Sam Altman receives a historic honor for his role in shaping the future of artificial intelligence. Meanwhile, European investor pressure grows as Denmark’s $25B pension fund pulls Israeli investments over human rights concerns.

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Markets

Former Lebanon Central Bank Chief Riad Salameh Freed on Record $14M Bail

🔹 What Is It About

Lebanon’s former central bank governor, Riad Salameh, has been released on $14 million bail, the largest in the nation’s history, after more than a year in custody. The 75-year-old faces charges of embezzlement, illicit enrichment, and forgery, which he denies. His release includes a one-year travel ban as his pretrial detention had exceeded the legal limit.

🔹 Why It Matters

Once celebrated as Lebanon’s financial savior, Salameh’s downfall symbolizes the country’s deep financial crisis and systemic corruption. Internationally, the scandal has drawn scrutiny, with France issuing an arrest warrant and European countries freezing assets linked to his family.

🔹 What’s Next

Salameh now faces trial in Lebanon’s so-called “Optimum scandal,” while separate probes, including a $330M embezzlement case, could intensify international legal pressure. His future could determine how Lebanon handles accountability in its financial collapse.

OpenAI’s Sam Altman Receives MBZUAI Honorary Doctorate for Transformative AI Leadership

🔹 What Is It About

OpenAI CEO Sam Altman was awarded the first-ever honorary doctorate from Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) in Abu Dhabi, with HH Sheikh Khaled bin Mohamed in attendance. The honor recognizes Altman’s pivotal role in advancing AI from research to real-world global impact.

🔹 Why It Matters

The recognition underscores the UAE’s ambition to position itself as a leader in artificial intelligence, aligning with its broader vision of innovation and technology-driven growth. For OpenAI, it reflects the global influence of its work in shaping the AI landscape.

🔹 What’s Next

Altman’s recognition cements MBZUAI’s growing reputation as a global hub for AI education and research. Expect deeper collaboration between the UAE and global AI pioneers, potentially influencing policy, innovation, and cross-border partnerships.

Danish Pension Fund Pulls Israeli Investments Over Human Rights Concerns

🔹 What Is It About

Denmark’s $25B AkademikerPension has announced plans to divest from Israeli state assets, including government-controlled companies, citing human rights violations linked to the war in Gaza and settlement expansion in the West Bank.

🔹 Why It Matters

This move follows Norway’s $2T sovereign wealth fund’s similar divestment, signaling a growing wave of European investor pushback against Israel’s policies. It highlights how ethical concerns are shaping global financial decisions and putting pressure on state accountability.

🔹 What’s Next

More funds may follow suit, creating ripple effects across global markets. Investor activism tied to humanitarian and legal concerns is likely to grow, potentially reshaping Israel’s financial ties with Europe.

👨‍💻From Smashi Business’ Desk

• Samsung’s YouDeserveMore Campaign Redefines Upgrades with Galaxy Z Fold7 & Flip7.

• From Posts to Power Moves: Narine & Sherine Turn Influence into Beauty Empires.

• HH Sheikh Khaled: “We Punch Above Our Weight”, UAE’s Strategic Role Spotlighted in Meeting with Trump.

• Global Ventures’ Noor Sweid Urges Founders: Stay Grounded, Don’t Let Hype Cloud Your Vision.

• DAMAC’s Hussain Sajwani: Nations Leading in AI Will Own the Future.

🔍In other news…

• Saudi fintech Erad aiming to lend $100m to Gulf SMEs

• Saudi Arabia uncovers earliest human settlements dating back 11,000 years.

• Binghatti prices inaugural $500m green sukuk.

• Dubai Taxi Company, Kabi by Al Ghurair form ride-hailing alliance with Bolt, Zed.

• Syria secures $1.5bn to revive tourism sector.

🏦 Crypto Corner

• Crypto data reveals UAE has mined bitcoins worth $700m

• Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.

• Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub.

• Abu Dhabi Judicial Department now accept AE Coin.

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